AML Analyst

Location
Bristol or London
Salary
Competitive
Posted
06 Apr 2021
Closes
05 Jun 2021
Role Classification
Other Professional
Contract Type
Permanent

Simmons and Simmons are looking for an AML Analyst to join our growing Risk team in either our Bristol or London office. You will assist the AML Team Manager and MLRO by carrying out AML and sanctions checks for new and existing clients and third-party payers, liaising with partners where necessary, and identifying and escalating higher risk clients/matters to the Risk legal team and/or the MLRO/deputy MLRO where appropriate. The successful candidate will ensure that the firm's due diligence on its clients meets compliance requirements and is properly recorded.

Main duties and responsibilities

  • Understanding of rules around anti-money laundering and sanctions and experience of applying them.
  • Researching, identifying and verifying new clients by using online data providers and any other online resources.
  • Analysing and establishing the corporate structure for clients where relevant and tracing up to the ultimate beneficial owners.
  • Advising partners on further details that are required from the client in the event that information is not available in the public domain or documentation is required on identified individuals.
  • Ensuring that partners properly complete their risk profile requirements in the firm's onboarding system.
  • Researching and identifying PEPs and high risk clients by creating an online profile.
  • Attributing a risk rating to the client and escalating the client to the [Compliance] Team Manager or MLRO where a decision needs to be made upon analysis of documentation and risk.
  • Seeking sign off from the AML Team Manager, Risk legal team or MLRO where necessary and advising them on approach.
  • Assisting with ongoing monitoring for existing clients and updating CDD for existing clients.
  • Recording all AML documentation, communications, and risk rating in the firm's client onboarding system, together with a summary of conclusions reached and steps taken.
  • Carrying out anti-terrorist and sanctions checks on clients and third parties where necessary.
  • Carrying out due diligence on third-party payers in line with the firm's policy.
  • Assisting the Conflicts Team with the identification and assessment of additional client vetting required for new matters for existing clients

Person specification

Education / Qualifications

  • Educated to degree level or equivalent
  • Minimum of two A levels or NVQ equivalent
  • GCSE in English Language and Mathematics
  • ICA qualification in Compliance or Anti-Money Laundering (or equivalent) desirable

Knowledge and Technical Skills

  • A strong understanding of the anti-money laundering rules and KYC (Know your client) requirements
  • Familiarity with an international client base and the variety of corporate structures involved
  • Business research skills
  • Broad IT skills and familiarity with client onboarding/workflow systems

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